Christie warns of unprofitable year; furloughs most employees

1 April 2020 | 13:51pm

StockMarketWire.com - Enterprise services provider Christie said it did not expect to be profitable this year, having suspended activities at its stock and inventory systems business amid the Covid-19 crisis.

The company said its cloud based visitor attractions system remained fully operational, though online traffic had slowed.

Its professional and financial services division continued to provide a restricted volume of transactional and advisory services, where possible, through its online presence.

'Overall, the majority of our UK staff have been placed upon grant-aided furlough,' Christie said.

'Other government backed arrangements apply internationally.'

'This is significant and welcome support where people costs are the substantive portion of our cost base.'

'We began the year trading normally but as a result of the Covid-19 induced restriction of trade our group do not anticipate being profitable this year.'

'We believe that the group's own resources, taken together with expected government backed support are sufficient to meet our cash requirements.'

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